Govt unearths tax evasion of Rs 50,000 cr

NEW DELHI, May 10 - As much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income has been unearthed by the government in the last years.

Finance Ministry in a statement today stated that the crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years, a 32 per cent jump over a similar previous period.

�Enhanced enforcement measures have resulted in unearthing of tax evasion of approximately Rs 50,000 crore of indirect taxes and undisclosed income of Rs 21,000 crore,� it said.

Listing steps taken by the government to curb the menace of black money both within and outside the country, it said a new Blackmoney Act has been enacted with strict penalty provisions. � PTI